David Einhorn, the boss of Greenlight Capital (pictured), a large American hedge fund, is usually the one to point out the errors in others’ ways. He has been a vocal critic of companies, such as Lehman Brothers, which he shorted before its collapse in September 2008. But yesterday Mr Einhorn was the one facing scrutiny. He and his firm were fined £7.2m ($11.3m) by Britain’s Financial Services Authority (FSA) for trading on inside information relating to an equity offering for Punch Taverns, the largest pub and bar operator in the United Kingdom.
